A scholarship fund isn’t the only way to achieve your charitable goals for funding education. Learn about how the community foundation can help you pursue areas of interest that support education in creative ways. You may be pleasantly surprised to discover the variety of options.

It’s graduation season, and that means education may be on your mind! The community foundation can help you make a difference in the lives of young people by funding education. Certainly, establishing a scholarship fund at the community foundation is one way to accomplish this goal. But that’s not the only way. Here are three ideas to consider as you explore ways to make an impact through education.

Establish a designated fund for educational institutions.

A designated fund provides support for specific organizations of your choice. So, for example, if you want to ensure that a particular college or university receives funding each year, you can set up a designated fund to accomplish this. For instance, if your family has supported the same local college for generations, you may want that support to continue. At the same time, you want to be sure that your funds are used effectively. This includes protecting your monetary support from the college’s creditors if the college finds itself in financial trouble. A designated fund at the community foundation could be the solution.

Establish a field-of-interest fund to support specific aspects of education.

Through a field-of-interest fund at the community foundation, you can establish parameters for grant making according to your wishes. If education is your priority, perhaps over the years you’ve supported a variety of local organizations that provide students with courses, tutoring, mentorship, and social services, ranging from grassroots charities to well-established trade schools and higher education institutions. Establishing a field-of-interest fund activates the community foundation’s expertise and research by delegating grant making decisions to the community foundation team. This helps donors like you ensure that their dollars will have the greatest impact.

Seek the advice of the community foundation for your donor-advised fund grant making.

If you have established a donor-advised fund at the community foundation, you’ve likely used it over the years to support your alma mater and perhaps other educational institutions. The community foundation team would welcome the opportunity to help you think broadly about education, beyond simply four-year institutions. Community colleges, trade schools, vocational programs, and out-of-the-box learning experiences may be a better fit for some students. The community foundation can also help you identify charities that support teachers, classrooms, and school districts, all of which need resources to deliver the best possible education to students.

We look forward to helping you support education as a major area of charitable interest! And if there’s a graduation in your family this year, congratulations!

The Hampshire County Public Library (HCPL) received a grant to purchase supplies for the library’s outdoor food pantry program. HCPL Director, Anna Poland receives a grant check from HCCF Board Member Paula Tingler.

The Hampshire County Community Foundation recently awarded 19 grants totaling over $24,000 to support a wide variety of local organizations and programs.

“Grants were awarded through our annual Winter/Spring Grants Program, which is competitive process”, said Amy Pancake, the Foundation’s director. “Grant seekers submitted a simple on-line application and then our grants committee reviewed the grants and made funding recommendations,” she added.

According to Pancake, the grants were made possible thanks to gifts from generous donors who established or contributed to the William Brady and Jean Taylor Rannells Fund, the Bill and Fran Wylie Education Competition Fund, the J. Holland & Anita Rannells and Gorda & Mona Saville Fund, the Erin Michele Pancake Memorial Fund, and the Hampshire County Community Impact Fund.

“Typically, we limit the amount an applicant can request to $1,000. Thanks to some last-minute gifts, however, the committee was able to award additional funding to some of the organizations providing youth, health, and human welfare services”, Pancake said.

HCCF Board Member Roy Knight presents Sherri Unger, Case Manager for Catholic Charities of WV with a grant to support their emergency assistance program.

Health and Human Services grants totaled $7,000 and will support programs offered through Catholic Charities, Hampshire County Library Association, Hampshire County Pathways, Romney Food Pantry, and Hampshire County Committee on Aging.

The Romney Food Pantry received a grant to purchase food to help meet the increasing need. Picture above (L-R) HCCF Board Members, Dave Waugerman and Roy Knight and Richard Gray, director of  the Romney Food Pantry.

Over $6,000 was awarded to organizations serving youth, including Children’s Home Society, Christ Community Church, Girls on the Run of the Shenandoah Valley, Hampshire County 4-H Leaders, Hampshire County Youth Football, and the WVU Foundation.

HCCF Board Member Paula Tingler presents a grant to Hampshire County Youth Football volunteer, Travis Delaplain for support the leagues growth and sustainability.

Arts, Culture, Conservation and Preservation grants totaling $4,000 were awarded to the Fort Edwards Foundation, the Hampshire County Arts Council, and The River House.

Capon Bridge Elementary School, EACHS Head Start, and Hampshire High School Health Sciences received $2,750 in education-based grants.

Finally, Cacapon TNR was awarded a $2,000 for its work address the county’s feral cat problem, which is both an animal and human welfare concern.

 “We received many exceptional applications,” Pancake said. “We are so pleased and thankful to be able to support a diversity of organizations that are doing such impactful work in our community. Our grants connect our donors and nonprofits around a common desire to build a stronger community and we are privileged to see this each time we award one”, she added.

Funding availability announcements for the Foundation’s spring grants program are made via email and organizations are encouraged to send an email to [email protected] or call the office at 304-822-7200 to request to be added to the mailing list. Applications are typically posted on the foundation’s website https://www.ewvcf.org/grants-scholarships-hampshire/ in early February.

The Hampshire County Community Foundation, an affiliate of the Eastern West Virginia Community Foundation, is a charitable organization committed to providing people who care about the future of our area with unique and effective ways of supporting their community now, and for generations to come. Community foundations number more than 800 across America with 25 in West Virginia and focus entirely on working with local individuals to build local assets to meet local needs.

The Hardy County Community Foundation is pleased to announce that it has awarded sixteen grants totaling $15,750 to support local organizations and programs. These grants represent distributions from eight endowment funds held by the Community Foundation.  Grants include:

• Burlington United Methodist Family Services – $1,000 Parents as Teachers Group Connections
• Catholic Charities of WV – $1,000 Emergency Assistance
• Children’s Home Society – $1,000 Recruiting Forever Families
• Eastern Regional Family Resource Network – $1,000 Celebrate the Family programs
• Hardy County 4-H Leaders Association – $1,000 Spring/Summer/Fall STEM Programs
• Hardy County Health and Wellness Center – $1,000 Everyone Swims
• Lost River Educational Foundation – $1,000 The Three C’s: Community, Culture, Creativity
• Lost River Projects – $1000 Music in the Park
• Lost River Trails Coalition – $1,000 Student Athlete Scholarships
• Moorefield High School – $1,000 MHS Jackbots Robotics Team
• Moorefield Middle School – $1,000 MMS/MIS Robotics
• Mountain Heritage Trails, Inc. – $1,000 Restored Humanity: African American Burial Sites of Hardy County
• Ronald McDonald House Charities of Pittsburg and Morgantown – $750 Make a House a Home project
• Town of Wardensville – $1,000 Movement Matters – Disc Golf Course
• Wardensville Lions Club – $1,000 Story Time

“Grants were awarded through our annual Winter/Spring Grants Program, which is a competitive process”, said Amy Pancake, the Foundation’s director. “Grant seekers submitted a simple on-line application and then our grants committee reviewed the grants and made funding recommendations,” she added.

            According to Pancake, the grants were made possible thanks to gifts from generous donors who established or contribute to the Hardy County Community Impact Fund, the Deanna Wilson & J Cavanagh STEM Fund, the Elizabeth “Betty” Pancake Williams Youth Development, Education and 4-H Fund, John R. and Agnes J. Mathias Fund, Renick Cunningham Williams Community & Business Development, and William “Bill” Sloan and Family Community Giving Fund.

            According to Amy Pancake, the Foundation’s Director, funding requests remain steady. “We received many exceptional applications, including requests from new applicants,” she said. “We are so pleased and thankful to be able to support a diversity of organizations that are doing such impactful work in our community. Our grants connect our donors and nonprofits around a common desire to build a stronger community and we are privileged to see this each time we award one”, she added.

Many community-minded individuals have served on the boards of directors of charitable organizations in our region. If you’ve served on a charity’s board (or several!), you are no doubt familiar with the concept of an endowment. Many charities establish endowment funds and reserve funds at the community foundation to help ensure that their missions stay strong during economic downturns and periods of increased community need.

What you might be less familiar with, however, is an endowment fund established at the community foundation by an individual or family. Every year, the team at the community foundation works with people like you to establish endowment funds to support the needs of our region in perpetuity.

Here are answers to five frequently-asked questions about setting up an endowment fund.

Why does the community foundation offer endowment funds to individuals and families?

The community foundation serves as the hub of philanthropy for many individuals and families in our community. We connect donors like you to community needs you care about, and this includes offering the opportunity to make a charitable investment that supports a range of community needs now and in the decades ahead–needs that cannot be predicted. That’s the purpose of an endowment: to provide a steady stream of dollars, far into the future, to meet community needs as they arise.

How does an “endowment” work?

“Endowment” is the word often used to refer to a designated pool of assets that are invested by the community foundation and tracked separately such that a modest portion (usually based on a percentage) of the assets are distributed each year to charitable causes, and the rest of the assets remain invested to grow in perpetuity. This growth, in turn, helps the endowment provide even more support each year to the causes for which it was established. The community foundation team is experienced at managing the accounting, investment, and distribution aspects of endowment funds.

How can I stay involved with my endowment fund after it’s established?

First and foremost, you can name the endowment fund anything you want, such as the “Smith Family Endowment Fund,” or something more anonymous such as the “Endowment Fund for Our Future.” In addition, our team is happy to keep you informed about the positive change in the community that is occurring thanks to the distributions from the endowment fund you’ve established. We can continue to keep your children and grandchildren informed, too, beyond your lifetime. In this way, your legacy continues through the generations.

Who decides where the endowment distributions go each year?

The community foundation is itself a permanent institution. Our board and staff are committed to keeping a finger on the pulse of the region’s greatest needs and maintaining a deep knowledge of the charitable organizations that are meeting these needs every day. This is the community foundation’s mission in perpetuity. The community foundation’s team is made up of dedicated and knowledgeable professionals who understand our community and build ongoing personal relationships with the people working at the region’s charitable organizations. The community foundation team recommends distributions from your endowment, and our independent board of directors reviews and approves these distributions to ensure that they fulfill your charitable goals for establishing the endowment in the first place.

What does it take to establish an endowment fund?

Setting up an endowment fund is as easy as setting up any other type of fund at the community foundation. Our team will prepare simple paperwork capturing the name of the endowment fund and any areas of interest you’d like to support. Then, you can transfer cash—or, even better for tax purposes, you can transfer appreciated assets such as stock or real estate. You’ll be eligible for a charitable tax deduction in the year you make the transfer to establish the fund. You can make future transfers to your endowment fund each year, too, to achieve your tax and estate planning goals. Our team is also happy to work with you and your advisors to structure a bequest to your endowment fund following your death. We highly recommend considering a bequest in the form of a beneficiary designation on an IRA because of the multiple tax benefits. Related, if you are over 70 ½, making a “Qualified Charitable Distribution” from your IRA directly to your endowment fund is a very effective charitable planning tool to avoid income tax and also satisfy your Required Minimum Distribution if you’ve reached that age as well.

We look forward to working with you to support our community and your favorite charitable causes for generations to come!

At the community foundation, we are honored to work with generous individuals and families like so many of you who’ve established, or contribute to, funds to support the causes you care about and the needs of our community both now and in the future. We’re also inspired by those of you who are getting to know the community foundation and considering establishing a donor-advised or other type of fund.

Wherever you are in the stages of your philanthropic planning, the team at the community foundation is here for you and considers our relationship to be personal. That’s why we welcome the opportunity to meet with our fund holders and prospective fund holders. Here are a few insights into what those meetings are all about.

You can expect personal, dedicated service. Unlike financial institutions’ donor-advised fund platforms where access to a dedicated donor services team can be rare, the staff at the local community foundation is here to help you every step of the way along your charitable giving journey. Our team is happy to meet with you one-on-one, and we are also happy to join a meeting with you and your legal, tax, or financial advisor to assess your current situation and determine the best charitable tax strategy for you. This includes evaluating the best assets to give to your fund or funds at the community foundation, including publicly-traded stock and even other noncash assets such as real estate or closely-held stock.

We care about your intentions for your fund. The team at the community foundation wants to understand the areas of interest that are a priority for you, whether that’s the arts, health care, social services, the environment, education, community development, or something else. We also want to understand the role you envision for the successor advisors you’ve named in the fund documentation, such as your children, who will make decisions about the fund when you are no longer living or able to manage the fund yourself.

We will help you establish additional funds to meet your goals. Sometimes when the team at the community foundation is working with a fund holder to understand the intentions for a donor-advised fund, we discover that it’s worth adding one or more additional funds to complement the donor-advised fund structure already in place. For example, some fund holders decide to also establish a designated fund for a particular nonprofit organization or an unrestricted fund to support the community foundation’s mission in perpetuity. Many times, fund holders decide to make recurring contributions over time to multiple funds at the community foundation to achieve their various philanthropy goals.

We make the paperwork a breeze. As you know if you’ve already established a fund at the community foundation, the paperwork is straightforward and not at all cumbersome. As we’re exploring updating your existing fund, setting up a new fund, or adding additional types of funds to your portfolio, we’ll prepare simple documentation to capture your wishes, collect important contact information, and address your vision for your fund or funds both during and after your lifetime.

We’re always here to strategize about your giving options. As you periodically review your assets and financial situation with your advisors, keep an eye out for appreciated assets that could be ideal to give to your fund or funds at the community foundation because of the potential capital gains tax savings. The community foundation can work with you and your advisors on contributions of a wide variety of assets to help you achieve your tax and estate planning goals. We are happy to go over the appraisal and documentation requirements for gifts of nonmarketable assets such as closely-held stock and real estate.

We’ll let you know about educational opportunities and gatherings with other fund holders. During our meeting, we’ll share a calendar of upcoming events and ways you can learn more about the causes you care about and what’s going on in the community overall. Our team is here to help you stay up-to-date on the various ways you can support the community by working with the community foundation and partnering with other fund holders.

Thank you for your commitment to philanthropy! If you’re already a fund holder, we are grateful that you’ve made the choice to organize your giving by working with the community foundation. If you’re considering getting started, we look forward to continuing the conversation! In either case, we look forward to seeing you soon!